Is it fair to assume a system designed in 1926 is somewhat outdated? Absolutely. No one should rely solely on what Kelley Blue Book says about how much your car is worth. When you shop for something on the internet, do you stop researching price comparisons at the first product you see? No, you continue to search for better prices at competing stores.
Kelley Blue Book like to keep their determination factors relatively closed off, so most of the information discussed is partly speculation from experts in the field. However, it is fair to assume they are as close to accurate as we’ll get without official comment from KBB since experts in the field corroborate the details.
If you’re trying to sell your car, get the most out of it. Call Cash For Cars at 760-877-5808 to set up an appointment and we’ll come to you! Continue reading to learn three key reasons for their faults.
Three Reasons Why Their Price Isn’t Always Accurate
Delay
That amount of data circulating through KBB can have some serious lag time for prices to be properly analyzed. The value reflected may not always be up to date yet. Trends and economic conditions can change at the snap of a finger. Kelley Blue Book may have not adjusted their pricing when you happen to check.
Wrong Set of Data
Collecting used car pricing data from dealerships might not always be the most accurate. The majority do not use Kelley Blue Book for their trade-in value. Instead, they use National Auto Researcher’s Black Book or the Manheim Market Report. Both pricing lists are not available to the public and usually value the cars at a lower price than KBB. If Kelley Blue Book is using this data to calculate its prices, then its listed price tag can potentially be lower than the actual value.
Condition of the Car
With all these factors that go into Kelley Blue Book determining the price, people often forget to consider the condition of the car. When trying to sell a car, they’ll often find they aren’t getting anywhere near the value listed on KBB. Dealerships and private-party buyers can claim that due to the condition, it’s only fair to shave off an additional hundred dollars or more. Kelley Blue Book can account for all these various factors, but unless someone physically looks at your car, the listed price might be misrepresented.
Earn More Cash Than What KBB Has to Offer
Our guarantee to you is that we can beat Kelley Blue Book 100% of the time and we even come to where you are in Southern California, cash in hand. Give Cash For Cars a call today at 760-877-5808 to speak with one of our representatives. Earn more cash when trying to sell your call and Contact Us today!